Exide Life Wealth Maxima Child Plan

Overview

Exide Life Wealth Maxima Child offers a comprehensive life cover with several advantages including three plan options (to upgrade the level of protection) namely, Maxima Invest, Maxima Family and Maxima Child and three different investment strategies in addition to systematic investment option to derive benefits from equity markets. Exide Life Wealth Maxima Child also offers loyalty additions and tax free maturity benefits. Customers can maximize their returns by availing of the investment choice, thereby, ensuring financial protection to their families against unforeseen circumstances.

Customers can avail of unlimited number of partial withdrawals after 5 policy years

Switching option

Customers can switch between the different product variants in the event of either marriage or children to their families. Switching is allowed only during policy anniversary and twice during a policy term.

Premium re-direction

Customers can allocate their premium in different proportions. Unlimited allocations are allowed.

How the Plan Works?

Customers should opt for a variant, policy term, premium and mode of payment

Investment strategy should also be selected

Customers should optimize their returns by switching and re-direction

Add top-up premiums and fulfil their goals with the help of partial withdrawal benefits

Example

Samrat Sharma, a 30-year-old marketing executive opt for Exide Life Wealth Maxima Child policy for 20 years and opts for Maxima Child variant. Sharma invests in Exide Life Active Asset Allocation Fund. Sharma pays Rs. 5,000 every month as premium. As ill-luck would have it, Sharma dies in an accident in the fifth policy year. As a result, Rs. 6 lakh is immediately paid to his nominee as a lump sum. All premiums are paid by the insurance company while the policy continues till maturity. At the end of 20 years, the maturity benefit (fund value at 8% p.a i.e, Rs.21 lakh) will be paid.

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GST of 18% is applicable on life insurance effective from the 1st of July, 2017